Oil hits highest since Nov. 2014 as Iran tensions mount | Reuters

Oil hits highest since Nov. 2014 as Iran tensions mount | Reuters:

"Oil prices rose about 2 percent on Friday, with U.S. crude hitting its highest in more than three years, as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran.

Bob Yawger, director at Mizuho, noted the looming May 12 deadline that U.S. President Donald Trump had set for Europeans to “fix” the deal with Iran over its nuclear programme or he would refuse to extend U.S. sanctions relief for the oil-producing Islamic Republic.

 “You have the May 12 Iran and Trump headlines that support the market,” he said.

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